October 16, 2007

Montego Bay Jamaica Real Estate

Montego Bay is considered the tourist capital of the Caribbean. It is an excellent spot with a buzzing nightlife and cruise ships that call to port daily. This is possibly one of the best spots to purchase Jamaican real estate. Montego Bay Jamaica real estate is possibly the fastest growing area with real estate values across the island of Jamaica. Jamaica is possibly the most renowned of all the Caribbean islands for fastest growing real estate values. The prices are being driven up due to an ever expanding commercial zone in the Montego Bay area. With this expanding commercial zone come new jobs and new opportunities. This leads to migration towards the city from more rural areas of the parish St. James. The most popular places that people have set up in and around the Montego Bay area are Westgate Hills, Barry Town, Salem, West Green, Salem Heights, Rose Mount and other places.

The cost of property in the Montego Bay area has become exorbitant and almost out of reach for most locals. Granville is one of the places much like Spring Farm and Rose Hall where properties range from one million dollars to (USD$1,000,000) to over ten million dollars (USD$10,000,000). These properties are owned by movie stars and hotel owners, like the famed Rollins Family owners of the Ritz Carlton Rose Hall Hotel. This is an excellent area to buy property. As over the last 3 years alone property prices have increased by over 18%. To buy Montego Bay Jamaica real estate you should first locate the are that fits within your budget. However if you use the search function on our right then you can quickly find real estate easily. In the coming months the most popular property has been Palmyra condominiums which go for very high prices. This provides a rare opportunity if you can purchase the property before development and resell after you could walk away with a hefty profit.

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